Oromin Explorations Ltd OLEPF

RE: Sprott and Oromin got a good deal.......

[mjh9413]

Asking that question about amounts due between parties made me refresh myself on the matter. Of course, Badr has a free carried interest and so costs were just between Bendon and Oromin. Another  thing I had forgotten was that at production the property has to be held by a Senegal registered Company (which is something that OLE were working on but I guess would fall to any new oweners) but more than  that the company could be opened up to Senegal national's ownership up to 25% at a price to be determined with the govt continuing not only theri 10% free carried interest but perpetual royalties. While all future stuff this must all add to the complexity of buying the interests...wonder if  OLE could just sell its interest or if the other two jv names are both willing sellers, and how does one value Badr's interest. If not sold these guys are going to need serious money to proceed to production, and soon.